www.petfoodindustry.com
Penford Corp. to acquire Gum Technology Corp.
Penford Corp., which deals in ingredient systems for food and industrial
applications, has entered into a definitive agreement to acquire Gum Technology,
a privately held gum and hydrocolloids distribution, blending and services
company.
"Gum Technology's product line and reputation for outstanding customer
service will broaden Penford's portfolio of functional and specialty ingredient
systems for existing customers and open new segments to the company," said
Tom Malkoski, Penford CEO. "We see opportunities in food and industrial bioproducts for high value, specialized products from the combination of our product
lines and customer relationships."
Gum Technology markets a range of gums and other hydrocolloids
throughout North America and Asia. The company specializes in developing
and producing customized stabilizers to meet customers' product formulation
needs. Gum Technology's products are found in a wide variety of food products
including beverages, sauces, bakery, frozen foods, jams and fruit fillings, spice
blends, dairy applications and nutraceuticals.
"We are pleased to join Penford and anticipate exciting opportunities to
combine our companies' expertise in product lines and broad geographic reach,"
said Allen Freed, CEO of Gum Technology.
The acquisition is expected to close in late March 2014, subject to certain
conditions. It is expected to be accretive within the first year with significant
growth occurring in subsequent years.
Blue Buffalo to
discontinue Blue
Longevity line
Blue Buffalo will discontinue its dog and cat food Blue
Longevity product lines because
it could not attract enough
consumers to make it a viable
brand, the company said.
The company suggests
that pet owners who use Blue
Longevity try one of its healthy
weight products for dogs and
cats as an alternative. According
to Blue Buffalo, these products all contain only the finest
natural ingredients, with real
chicken, turkey or beef as the
first ingredient and are formulated to help dogs and cats
achieve and maintain a healthy
weight.
They Know Us.
But, They're Not Talking!
Solutions Plus.
Through our experience and unique
industry partnerships, we've developed a
distinctive line of products that
provide exceptional nutritional value
for pet food formulations.
Contact us today for more information
about getting the quality products you
expect and your customers deserve.
6312 West Main - Kalamazoo, MI 49009
(269) 350-2900 Fax: (269) 350-2916
thepetersoncompany.com
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